Lack of certainty over bank ‘scaring markets’

THE Government needs to lay out a timetable immediately for winding down Anglo Irish Bank to end the damaging uncertainty on the issue, Labour has said.

Party leader Eamon Gilmore said the lack of certainty over the bank’s future – and its final cost to taxpayers – was scaring the money markets and driving up Ireland’s borrowing costs.

“What’s really killing us at the moment is the sense that there’s no end to this,” he said, pointing out that estimates of the final bill to the state for the Anglo bailout were already ranging between €25 billion and €35bn.